Asset Considerations for the Medicare Premium Assistance Savings Program 510-05-60-15

(Revised 12/1/19 ML #3569)

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(N.D.A.C. Section 75-02-02.1-22(4))

Medically needy asset considerations , valuation of assets , and forms of asset ownership apply to SSI Buy-In and Medicare Savings Programs. The Medicare Savings Programs eligibility determinations has three exceptions:

Half of a liquid asset held in common with another QMB, SLMB, or QI is presumed available;

Assets owned by a child, under age twenty-one, in the unit are not considered available in determining eligibility for the child's parent, except that all liquid assets held in common by the child and the parent are considered available to the parent; and

Assets owned by a parent or spouse who is not residing with an applicant or recipient for a part of a month are not considered available for that month unless the assets are liquid assets held in common. This provision does not apply to situations where either the parent, spouse, or child is away from the home for a full calendar month for the purposes of work or school.